// ROBOTICS AND SMART FACTORIES TERM
Near-Shoring
Moving business operations or manufacturing to a nearby country, often sharing a border or a similar time zone.
TECHNICAL DEFINITION
Near-Shoring is a business strategy involving the relocation of manufacturing or business processes from a distant country to a closer country, typically within the same region or continent, to reduce lead times, transportation costs, and improve supply chain responsiveness.
BACKGROUND
Manufacturing is a vital economic sector in the United States of America. The United States is the world's second-largest manufacturer after the People's Republic of China with a record high real output in 2024 of $2.913 trillion.
READ MORE ON WIKIPEDIASYNONYMS & ALIASES
- Regional sourcing
- regional manufacturing
- close-sourcing
USAGE NOTE
Companies choose near-shoring to benefit from lower labor costs than domestic options while reducing the risks associated with far-shoring.